Govt looks to relax norms for setting up petrol pumps

Govt looks to relax norms for setting up petrol pumps

The government is mulling relaxing norms for setting up petrol pumps as it is keen on getting more private players into fuel retailing so as to increase competition. The Oil Ministry has set up an expert committee to recommend easing of fuel retailing licensing rules, the ministry order said.

At present, to obtain a fuel retailing licence in India, a company needs to invest Rs 2,000 crore in either hydrocarbon exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals.

The expert committee will “look at various issues related to the implementation of existing guidelines for grant of marketing authorisation of market fuels – petrol, diesel and aviation turbine fuel (ATF),” it said.

The panel would include renowned economist Kirit Parikh, former oil secretary G C Chaturvedi, former Indian Oil Corp (IOC) chairman and IIM Ahmedabad Director M A Pathan.

It has been asked to furnish its report within 60 days after due consultations with stakeholders. Read More

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